VISTA GOLD CORP VGZ
Vista Gold Corp. and its subsidiaries operate as a development-stage company in the gold mining industry. Vista does not currently generate cash flows from mining operations.
Our flagship asset is the Mt Todd Gold Project ("Mt Todd" or the "Project"), a development-stage gold deposit located in the Tier-1 jurisdiction of Northern Territory, Australia (the "NT"). Mt Todd offers a large gold mineral reserve, development optionality, expansion opportunities, exploration upside, advanced local infrastructure, community support, and demonstrated economic feasibility.
On July 29, 2025, the Company announced the results of a new Mt Todd feasibility study focused on developing a 15,000 tonnes per day ("tpd"), or 5.3 million tonnes per annum ("tpa"), operation (the "Mt Todd FS" or the "Study"). The Mt Todd FS significantly decreased the initial capital requirement, prioritized grade over tonnes, delivered stable gold production over the extended life of the project, and provided a fresh perspective for developing the Project using design and operating practices commonly employed by Australian gold operations.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | — | — | — | — | — | — | $4.8M | $6.9M | — |
| Gross profit | — | — | — | — | — | — | — | -$4.8M | -$6.9M | — |
| SG&A | $3.6M | $3.7M | $3.5M | $3.8M | $3.9M | $3.8M | $3.9M | $4.1M | $3.5M | $2.9M |
| Total operating expenses | — | — | $6.8M | $5.5M | $15.3M | $2.3M | $8.1M | $10.9M | $10.8M | $7.7M |
| Operating income | -$9.3M | $10.5M | -$6.8M | — | — | — | — | — | — | — |
| Pre-tax income | -$7.5M | $11.2M | -$6.6M | -$4.9M | -$15.2M | $420.0K | -$9.4M | -$8.7M | -$12.0M | -$3.1M |
| Income tax | — | $0 | $0 | $0 | $0 | $0 | $0 | — | — | — |
| Net income | -$7.5M | $11.2M | -$6.6M | -$4.9M | -$15.2M | $420.0K | -$9.4M | -$8.7M | -$12.0M | -$3.1M |
| EPS, basic | -0.06 | 0.09 | -0.05 | -0.04 | -0.14 | 0.00 | -0.09 | -0.09 | -0.12 | -0.04 |
| EPS, diluted | -0.06 | 0.09 | -0.05 | -0.04 | -0.14 | 0.00 | -0.09 | -0.09 | -0.12 | -0.04 |
| Shares, diluted (wtd. avg.) | $125.2M | $125.6M | $120.5M | $118.0M | $110.3M | $104.5M | $100.5M | $99.7M | $98.6M | $89.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $13.6M | $16.9M | $6.1M | $8.1M | $12.8M | $7.8M | $1.4M | $1.1M | $1.4M | $1.9M |
| Short-term investments | — | — | — | — | — | — | — | — | $15.1M | $22.0M |
| Total current assets | $14.1M | $17.5M | $6.5M | $8.6M | $14.0M | $9.4M | $8.8M | $14.1M | $21.1M | $29.5M |
| Property, plant and equipment | $986.0K | $482.0K | $204.0K | $193.0K | $233.0K | $5.6M | $5.6M | $5.6M | $7.6M | $8.2M |
| Total assets | $16.3M | $19.0M | $8.9M | $11.0M | $16.3M | $17.2M | $16.7M | $22.1M | $31.1M | $41.6M |
| Accounts payable | $230.0K | $160.0K | $190.0K | $169.0K | $566.0K | $356.0K | $190.0K | $195.0K | $830.0K | $252.0K |
| Total current liabilities | $1.1M | $1.0M | $939.0K | $933.0K | $1.8M | $1.1M | $1.1M | $872.0K | $2.1M | $1.1M |
| Total liabilities | $1.2M | $1.1M | $4.0M | $957.0K | $2.0M | $1.4M | $4.0M | $872.0K | $2.1M | $1.1M |
| Retained earnings | -$467.7M | -$460.2M | -$471.4M | -$464.8M | -$459.9M | -$444.6M | -$445.1M | -$435.7M | -$427.0M | -$414.9M |
| Total equity | $15.1M | $17.9M | $5.0M | $10.0M | $14.3M | $15.9M | $12.6M | $21.3M | $29.1M | $40.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.6M | -$5.7M | -$5.9M | -$7.4M | -$10.6M | -$7.0M | -$7.1M | -$8.6M | -$8.8M | -$5.0M |
| Depreciation and amortisation | $88.0K | $55.0K | $40.0K | $45.0K | $49.0K | $48.0K | $52.0K | $983.0K | $655.0K | $618.0K |
| Stock-based compensation | $671.0K | $684.0K | $636.0K | $779.0K | $887.0K | $913.0K | $765.0K | $982.0K | $874.0K | $645.0K |
| Capital expenditure | $592.0K | $344.0K | $51.0K | $5.0K | $139.0K | $68.0K | $40.0K | $63.0K | — | $37.0K |
| Investing cash flow | -$742.0K | $15.6M | $2.9M | $2.9M | $2.6M | $11.6M | $7.4M | $8.3M | $8.6M | -$9.9M |
| Financing cash flow | $4.0M | $1.0M | $871.0K | -$113.0K | $13.0M | $1.7M | $13.0K | -$97.0K | -$264.0K | $15.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000783324-26-000009.
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